Sales 4,606
Average Price $863,599
New Listings 9,104

‘Genworth Canada confirms that it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit score and down payment requirements.’ – Genworth Canada

This means you can have a bit more purchasing power with Genworth Canada compared to CMHC.

Effective July 1, the following changes will apply for new applications for homeowner transactional and portfolio mortgage insurance:

Limiting the Gross/Total Debt Servicing (GDS/TDS) ratios to our standard requirements of 35/42;

‘The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent.’ – Bank Of Canada

Effective Monday May 25, 2020, the Bank of Canada 5-year Benchmark Qualifying Rate is 4.94%

Sales 2,975
Average Price $821,392
New Listings 6,174

Sales 8,012
Average Price $902,680
New Listings 14,424

‘The Bank of Canada today maintained its target for the overnight rate at ¼ percent, which the Bank considers its effective lower bound. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent’ – Bank Of Canada

Some lender prime rates are at 2.45%

‘The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent.’ – Bank Of Canada